Given that our clients are predominantly retired or at least in the run up to retirement care home fees and their impact on their accumulated wealth is becoming a concern for some. There is a Chartered Insurance Institute (CII) exam called CF8 in Long Term Care and I had purchased the study material some time ago but having two small children makes juggling running a business and exam preparation a difficult proposition! However, I received notification that my exam entry would expire at the end of August this year so I booked a date, prepped and passed the exam – phew! The prospect of having to go into some form of residential or nursing care is not a pleasant one and financial worries are something that shouldn’t have to be dealt with at the same time.
Planning for care home fees is something that’s best done early and not when residential care is imminent. Please feel free to mention it to us at our next review meeting and if you are a prospective new client please don’t hesitate to contact me for further information.
By David Gibson